Regional Existing Industry Report Shines Favorably on Buchanan County
(Cedar Valley of Iowa) – The Buchanan County Economic Development Commission (BCEDC) and the Cedar Valley Regional Partnership have released the 2015 BEST (Business Expansion & Strategic Trends) Report. The Report documents a potential $131 million in total investment from business expansions in the Cedar Valley over the next three years, creating as many as 523 new jobs. Click to see the Cedar Valley BEST Industry Report
The report details findings from 67 existing business interviews conducted in 2015 by regional economic development organizations. Surveys with manufacturers, food processors, financial service providers and technology developers explore business climate factors, market forces, and expansion plans, along with workforce, and training. The BEST Report helps identify trends, expansion opportunities, and challenges, and underscore issues facing businesses in the Cedar Valley Region.
“The Cedar Valley Regional Partnership is an economic development marketing partnership focused on attracting business investments. This survey and resulting report puts greater emphasis on regional collaboration in existing business expansion and retention,” says Tammy Robinson, Chair of the Regional Partnership and New Hampton Economic Development Director. “Sharing resources, knowledge and expertise better equips us to help existing businesses across the Cedar Valley grow.”
Reports identifies trends and challenges:
- Over half the participating Cedar Valley companies reported high value (unique or innovative products and processes, highly customized service, or high brand recognition) and growth potential.
- Cedar Valley companies are prospering thanks in part to the rapid expansion and accessibility of broadband fiber. A notable 93.9% of respondents show confidence in the region’s technology infrastructure to accommodate their growth plans.
- Survey responses attribute additional Cedar Valley regional strengths as key factors in their success including: central geographic location with access to markets and suppliers, high quality of life attributes, low-cost of doing business and the quality and productivity of the region’s employed workforce.
- In comparisons with state and national data, the Cedar Valley performs as well as or better than other regions in many categories, including greater investment in research & development, growth in new product introduction, and higher a level of responsiveness to market interest and demand for products and services.
- Cedar Valley companies are faring far better at finding workforce than their respective industries as whole. Moreover, the Cedar Valley workforce exceeds the Iowa and national averages for quality, stability, and productivity.
“The BCEDC will use the BEST Report to inform our strategy in workforce development, existing business services, and legislative priorities on behalf of Cedar Valley businesses, industry and institutions,” says BCEDC Director George Lake, and contributor to the existing industry survey project. “This report confirms that the Cedar Valley is a great place to do business. It is important that we continue to provide support and technical assistance to help Cedar Valley businesses grow and remain competitive.”
For further information on the Cedar Valley BEST Report or the Cedar Valley Regional Partnership, contact BCEDC Director George Lake email@example.com 319-334-7497
Click to see the Cedar Valley BEST Industry Report